We are excited to announce a referral tracker that we are working on a mobile app for agents on the ReferralCloud platform and have already rolled out a number of improvements to the ReferralCloud site that will not only allow better tracking of referrals between agents, but also allow agents to use the platform to track ALL their referrals, even the ones that are not being managed by ReferralCloud.
This allows real estate agents to have all their referrals in one place.
Here are some of the key features of the new ReferralCloud update:
Agent Managed vs ReferralCloud Managed
When creating a referral agents are given two choices:
- Allow ReferralCloud to assign the agent
- Agent picks their own referral partner
This is how they work:
ReferralCloud Assigns Referral Agent
This is the normal option for agents. When selecting this option ReferralCloud will select the agent based on which agent is next in a service area to get the client assigned. ReferralCloud manages the referral progress and at closing ReferralCloud makes sure that the agent is paid the 25% referral fee.
The most important element of this option is that the agent who placed the referral is placed AHEAD of other agents in their market for inbound referrals.
Agent Chooses Their Own Referral Agent
This option allows the agent to pick from agents who are currently on the platform as a referral tracker. If the agent is not on the platform, they will be given the opportunity to invite the other agent in via email address.
The agent will get all the benefits of using the technology to track their referrals, but WILL NOT be given any consideration toward receiving inbound referrals at a higher priority nor will ReferralCloud work to ensure they are paid their 25% referral fee.
Using this option is only meant for agents who wish to use the platform as a free utility to track their referrals or wish to conduct referrals at a different referral fee split other than the 30/25 splits currently offered (30% paid by receiving agent / 25% given to referring agent).
How to Find a Referral Agent
To find an agent to self-assign a referral to, merely start tying in the agent name and the list will autopopulate with agents names, a thumbnail picture and their brokerage.
Once you have found the agent you would like to assign the referral to, just click on their name and select “SUBMIT REFERRAL” at the bottom when done with all the information. This will assign the referral to that agent and then they will be able to see the referral in their dashboard and also get an email about the referral.
Keep in mind that managing your own referrals do NOT place you for higher priority for inbound referrals in your market.
A number of status choices are available to change as the transaction moves forward. Updating the referral status is an important way to keep the referring agent informed of what’s happening with the referral.
This feature works for both ReferralCloud managed referrals and agents managed referrals.
Estimated Closing Date
The estimated closing date is easily selectable from a calendar selection in the website. On the mobile app this feature will also be prominent.
Please use this feature as it helps the referring agent as well as ReferralCloud staff know when the closing is expected.
This feature is active for both agent and ReferralCloud managed referrals.
ReferralCloud Referral Tracker App
The team at ReferralCloud is working on a mobile app that will make it even easier to use the features in the web version. ReferralCloud is on a mission to make tracking referrals even easier between agents and making it so that agents know whey they are going to get paid on a referral and also remember which agents they gave referrals to.
When the ReferralCloud app is complete we will notify each agent on the platform via SMS update to download the app directly to their phone!
ReferralCloud is the largest community of agents in the US that are not part of a single franchise. Agents who are using the platform are much more likely to get a referral through the network than by randomly being discovered in a Facebook referral group or a Google search for real estate agents.
Agents are also far more likely to get paid at closing since ReferralCloud is working to not only track the transaction but making sure the agent that placed the referral remembers that the closing was from a referral and that a referral fee is due.